Councillor Tierney was speaking after attending a meeting with the Department for Communities to discuss the matter this week.
He said he was extremely frustrated to learn the department had no timeframe for the opening of funding streams to allow the development to go ahead.
Sinn Féin had previously said the funding for phase two of the stadium’s redevelopment was guaranteed.
Said Cllr Tierney: “It’s extremely frustrating that the Department for Communities are unable to give us any indication around funding for the second phase of redevelopment work at the Brandywell Stadiun.
“Over five years ago Sinn Féin told us this funding was guaranteed and the party’s Communities Minister Deirdre Hargey seems to have abandoned this promise.
“The Brandywell is an important community hub in our city, it’s not just used by our football clubs, but the general public and is open to everyone.
“The first phase of the redevelopment was a massive success, it delivered a modern stand for fans, a new greyhound track and much improved facilities.
“The second phase is now long overdue.
“With fortunes changing for the better for Derry City on the pitch there could be no better time for Minister Hargey to recommit herself to this project.
“There is a new-found feeling of optimism around the club and we need to capitalise on this.
“If we wish to bring more fans through the turnstiles then we have to be able to offer an experience befitting a modern football match.
“Time and time again Sinn Féin have made promises to the people of Derry, but failed to deliver.
“We need the minister to get this funding scheme open so we can get a timeframe in place for this redevelopment work.
“I will continue to press for action until our city has the stadium it deserves.”
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